THE UNIVERSITY OF CHARLESTON, INC

THE UNIVERSITY OF CHARLESTON, INC received a PPP loan of $4,590,000 approved on Apr 27, 2020. The loan was originated by United Bank.

THE UNIVERSITY OF CHARLESTON, INC is a non-profit organization located in CHARLESTON, West Virginia. At the time of the application, the business was described as "existing or more than 2 years old". This organization is classified as a non-profit.

The business operates in the Colleges, Universities, and Professional Schools industry (NAICS 611310), part of the Educational Services sector of the economy. The applicant reported 476 jobs as retained through this loan.

The SBA forgave $4,668,412.50 of this loan — 101.7% of the total approved amount, with forgiveness recorded on Jan 24, 2022. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.

According to the SBA's records, the proceeds of this loan were allocated as follows: $4,590,000 to payroll. The payroll component represents 100.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.

This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in West Virginia, visit the West Virginia page. To compare this loan with others in the same industry, see the Colleges, Universities, and Professional Schools industry page.